Toys R Us Moving Forward With Liquidation

Toys R Us Moving Forward With Liquidation

OKEMOS - Toys R Us has filed for bankruptcy and is speedily moving through their liquidation process, shutting down all of their stores.

The toy retailer giant has been going through long-term financial problems and couldn't keep up with other large retailers selling toys for a cheaper price and online options.

After declaring bankruptcy, the company failed to rebuild and was granted court approval for liquidation last month.

Jurate Latvenas has been shopping at Toys R Us for years, but she understands the changing market and isn't too surprised with the company coming to an end.

"Yes I did hear that it's closing and it's kind of sad, but I guess in today's reality the market is adapting to very different realities," Latvenas said. "People are not shopping in stores anymore, everybody's going on-line. Kids are more interested in on-line games not the real games anymore. So, I guess we have to face it."

Thousands of jobs are in jeopardy across the country including at the local Toys R Us in Okemos that has been in business for over a decade.

The store is currently offering large, store-closing discounts that'll last until the store's closing.

Just last week Toys R Us shut down its e-commerce websites including Toys R Us and Babies R Us, taking another large step in the shutting-down process.

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